Importance of North Sea Oil and Gas Revenue to British Economy fastessayz.com

Importance of North Sea Oil and Gas Revenue to British Economy Name Instructor Institution Course Date Abstract The oil and Gas revenue benefits the British Economy on development in the energy’s security, taxation, export revenue, regional development, indirect and direct job creation and investments. The oil boom of 1974 increased the formation of policies for the control of the prices and operations on North Sea Oil and gas industry. The oil and gas industries were formed for the control of the following status. The problems to be managed were the below-average human development for the citizens, change of the strong dependencies for the oil export business, high unemployment rates, rising governmental expenditures, deterred interests for private investment. The financial and contractual management has been enabled by the resource planning, licensing, depletion policy, operation’s oversight, health and safety and market influence control are governed with the operat...